Prince Save N Gold

GOLD PURCHASE ADVANCE PLAN [II]

Gift Coupon 5 % paid up amount value  

Prince Save n Gold

You have to make 11 monthly advance, payments for conversion into gold in the smartest possible way. For every monthly advance payment, gold is credited to your account at the prevailing rate. That is, you directly buy grams of gold every month at existing rates instead of buying them at the end of maturity. This helps you to protect your investment from the fluctuating gold price, and lets you buy your favourite Jewellery in absolute peace of mind.

 The minimum advance amount to open an account is Rs.1000/and in multiples of Rs.500/-.

What is Prince saves n gold?

Prince Save n gold, the member has to make advance payments for 11monthwith a minimum of Rs.1000/and, in multiples of Rs.500/, with a fixed monthly advance payment. The advance payment cannot be extended for more than 11 months. It is gold weight based and the 11th monthly advance payment should be completed within 11 months from the date of the first advance payment without fail. This should be strictly adhered to, and nobody can supersede this. After completion of 11 monthly advance payments, within stipulated time, you are eligible for a purchase, for the accumulated weight of a plain gold Jewellery, at the gold rate applicable at the time of redemption, based on the recommended rate by at Chennai, Bengaluru, the Madras Jewelers and Diamond Merchants Association and in Kerala, the prevailing rate for selling 22kt (916 gold rates).

How do I pay?

The monthly advance payments can be remitted by you before 10th of every month by cash in any one of our showrooms.  We also accept Demand draft / Local Cheques on all days in a week. The amount can be paid by cash, at par cheques, demand drafts, Debit cards and/ Credit cards, Bank service charges will be collected on actual for credit cards. You can also have an option to use the automatic electronic system ECS for payment of instalments and you can avoid your monthly visit to the showroom just for the purpose of remitting monthly advance payments. We accept post-dated cheques favouring ‘PRINCE GOLD AND DIAMONDS INDIA PRIVATE LIMITED’ for the entire period for your convenience. Online payment and NEFT payment can also be made and the receipt will be sent through mobile text or E-mail. The details of these facilities will be furnished to you at the time of opening of the account and on your request. You can also close your account in anyone of our showrooms.

Customer can join Prince Save n Gold through online where ever they are placed.  At the time of opening of through online, particulars of the id proof should be provided and at the time of closing, the original id proof should be provided for verification without fail.

What if I don’t pay continuously?

Prince Saven Gold advance payments should be completed within 11 months from the date of first advance payment, and, under no circumstances it will not be extended beyond 11 months.

What if I discontinue?

If you discontinue before 11 months, you can buy jewellery for the accumulated weight, cash will not be refunded.

While purchase / redemption. Will I be eligible for any special / discount offers?

This is unique and will not be linked to any other offers.

Will there be VAT?

Yes, VAT will be borne by the customer.

Terms and conditions

1. You have to make 11 monthly advances, payments for conversion into gold in the smartest possible way. For every monthly advance payment, gold is credited to your account at the prevailing rate. That is, you directly buy grams of gold every month at existing rates instead of buying them at the end of maturity. This helps you to protect your investment from the fluctuating gold prices. And lets you buy your favourite Jewellery in absolute peace of mind.

2. Monthly Advance payments should be paid on or before the 10th of every month and the 11th advance payment should be completed within 11 months from the first date of advance payment, and it cannot be extended on any account. This should be strictly adhered to, and nobody can supersede this. Immediately after paying the 11th advance payment within the stipulated time, the member can purchase jewellery for the accumulated weight.

3. Monthly advance payment will be accepted in any one of the show rooms of Prince Jewellery and. members are entitled to redeem their gold at any Prince Jewellery Showrooms at Chennai, Thiruvananthapuram, & Bengaluru.

4. The monthly advance payments can be remitted by you before 10th of every month by cash in any one of our showrooms. We also accept Demand draft / Local Cheques on all days in a week. The amount can be paid by cash, at par cheques, demand drafts, Debit cards and/ Credit cards, Bank service charges will be collected on actual for credit cards. You can also have an option to use the automatic electronic system ECS for payment of instalments and you can avoid your monthly visit to the showroom just for the purpose of remitting monthly advance payments. We accept post-dated cheques favouring ‘PRINCE GOLD AND DIAMONDS INDIA PRIVATE LIMITED’ for the entire period for your convenience. Online payment and NEFT payment can also be made and the receipt will be sent through mobile text or E-mail. The details of these facilities will be furnished to you at the time of opening of the account and on your request. You can also close your account in anyone of our showrooms.

5. Customer can join Prince Save n Gold through online where ever they are placed. At the time of opening of through online, particulars of the id proof should be provided and at the time of closing,, the original id proof should be provided for verification without fail.

6. In case of dishonour of cheques, the date of realization of cheques will be taken for fixing the gold rate. Default in payments cannot extend the maturity date by the number of months so defaulted, because the member should complete all the advance payments the 11th month from the date of the first advance payment made without fail.

7. The members are entitled to redeem the equivalent total weight of gold that is credited to their account on account of their advance payments, even while the member make the last (11th month) payment on the stipulated time.

8. The gold rate as announced by the Madras Jewellers& Diamond Merchants association at Chennai, and Bengaluru and in Kerala, the prevailing market rate for selling 22 kt (916 gold rates) will be the rate applied for calculating the equivalent weight of gold.

9. Cash will not be refunded under any circumstances.

10. If you discontinue before 11 months, you can buy jewellery for the accumulated weight, cash will not be refunded.

11. It is the sole discretion of the company to alter, amend, modify, add or delete any terms and conditions from time to time.

12. The original membership card has to be surrendered at the time purchasing of Jewellery, and the person, who has signed the first advance payment slip, should sign in the invoice at the time of purchase. In case the person, who has signed in the first advance slip is unable to come personally for making purchase, a letter authorizing another person making the purchase, and signing the invoice, with identity proof is required. The member can also nominate a person in case of emergency to receive the maturity proceeds.

13. For maturity value of five lakh and above, the copy of the pan card should be produced at the time of purchase. In case of any change in the policy of Government regarding taxation, the same shall be fully borne by the customer/member. Pan card no is to provide by the customers who are making advance payment of Rs. 4500/and above enable us to detect TDS, if any, at the time of purchase.

14. All disputes are subject to the jurisdiction of the competent courts in Chennai. 

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